PART ONE
What is the amount of the Adjusted Gross Income for 2019 tax return? The individual is single. Operate a small business and the records are kept on the cash basis account.
INFORMATION NEEDED BELLOW
Gross Income 600,000
Net Income 123,386
Self Employment Taxes 17,434
Expenses 476,614
Standard deduction 12,200
Estimated Tax Paid 17,400
PART TWO
What is the amount of the Qualified Business Income Deduction?
PART THREE
What is the amount of the Taxable Income?
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